This report uses data from the National Postsecondary Student Aid Study of 1996 to describe the financing of undergraduate education in 1995-96, with particular focus on student loans and other types of financial aid. The report begins with an essay that describes the role of student loans within the context of tuition, the total price of attendance, and other financial aid available to undergraduates in 1995-96. It provides information on amounts of federal loans borrowed by students, and profiles student borrowing and financial aid for each of the four major types of institutions: public two-year institutions; public four-year institutions; private, not-for-profit four-year institutions; and private, for profit institutions. The essay is followed by a compendium of 76 tables that provide information on student loans, tuition and the price of attendance, financial aid, net price of education and need, and general background characteristics of undergraduates. A glossary and technical notes on methodology are appended. (DB)